Trump touts $9 trillion in new U.S. investment. The numbers don’t add up.

President Trump recently defended his tariff policies, claiming they have led to record investments in the United States. In an interview on NBC’s Meet the Press, he stated that close to $9 trillion of investments were pouring into the country, a figure he believes surpasses any previous president’s achievements in this area.

However, a fact check by CBS News Confirmed found no evidence to support Trump’s claims. While there have been announcements of hundreds of billions of dollars in planned investments since Trump took office, the total does not come close to $9 trillion. Additionally, some of the investments highlighted by the White House were actually announced before Trump’s reelection, casting doubt on the administration’s claims.

For example, the White House listed a $4.1 billion commitment from Novelis to build a plant in Alabama, but construction for this project began in October 2022, well before Trump’s presidency. Similarly, a $1.5 billion pledge by Corning to invest in its solar products facility in Michigan included $900 million announced before Trump took office.

Trump has also compared his investment achievements to those of President Biden, claiming he attracted more investments in his first two months than Biden did in four years. However, there is no clear evidence to support this assertion. Biden’s investments in clean energy and manufacturing projects have been highlighted in a report, but the comparison to Trump’s list of investments is misleading.

Experts caution that announcements of planned investments do not guarantee action, as companies often make such announcements to gain favor with the administration. Both Biden and Trump have claimed credit for projects started under their predecessors, and the long-term impact of federal policies may take years to assess.

In conclusion, while Trump’s claims of record investments may sound impressive, the reality is more nuanced. The true impact of his tariff policies on investment in the United States remains to be seen, and the comparison to Biden’s achievements is not as straightforward as it may seem. Only time will tell the full extent of the economic effects of these policies.